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Tax question re: Securities Transaction Tax
Hi. Looking for some help on a tax question as I have gotten two completely opposite views from two CA's. Can you adjust the purchase and sale price of stocks with the amount of securties transaction tax (STT) that you are charged when you buy and sell stocks? Thanks.
Replies (2)
for a person who is not a trader and calculates his income under Capital Gains the treatment will be as follows:
Sales consideration= sales consideration including STT
cost of acquisition= cost of acquisition net of STT
i.e. loss from both side high sales consideration and low cost of acquisition
Thank you for your response and the information. I was told by one CA that you should include STT in the cost basis calculations and told the exact opposite by another CA so I was confused.....thanks for the clarity..
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